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to their neighbor's economies. chinese and south korean officials have already begun talks on a free trade deal between their countries. now negotiators involved in discussions for another free trade zone in the asia pacific say they hope to conclude an agreement by the end of next year. they're trying to strike a deal for what's known as the trance pacific partnership or tpp. leaders of seven of the 11 countries discussing the u.s. life led on the sidelines of the east asia summit. the negotiators wanted to conclude a deal by the end of this year, but they couldn't agree on how to eliminate tariffs and they're still divided on other issues such as whether they will allow exemptions to the rules. australian prime minister julia gilliard said an ambitious deadline would be to reach agreement by next oblt. the negotiators will meet again next month in new zealand. >>> january 1, 2013 marks more than just the new year. for americans it could be the beginning of simultaneous tax hikes and spending cuts. >> talking about the fiscal cliff and everyone is talking about it including the u.s. federal re
's economy has continued to grow while the rest of europe has slowed. >> that growth is now so minimal that economists say 2013 next year could see a return to recession. still, german businesses shrugging off that possibility. >> business managers are upbeat about their future. >> german business leaders are optimistic that exports will remain strong, and the latest figures back that up. consumer confidence is also surprisingly robust. all the talk of a crisis in the eurozone does not seem to have dented people's desire to shock, but growth overall is beginning to falter -- the talk of a crisis does not seem to have dented people's desire to shop. the eurozone as a whole has fare worse with zero growth at the start of the year and then downhill from there. that has a knock on effect for german companies. so far, though, the german economy is weathering the storm. >> that news sent stocks in germany higher in what has been a bit of a winning streak recently. our correspondent has more from frankfurt. >> traders did not spend much time looking back on the slowdown of the german economy,
want a five-year extension. they argue major economies may not be able to agree to severe reduction targets over the long-term. japanese delegates say they will not join the extended protocol. they want to continue using something called the clean development mechanism. it allows rich countries to earn carbon off sets by providing funds and technology to poor nations to help them reduce their emissions. >>> the people in charge of the site of the world's worst nuclear accident say they have taken a big step in cleaning it up. workers have raised part of a permanent shelter around a reactor at the nuclear plant in chernobyl. the area around the plant is highly contaminated. the workers raised an arched section that will surround the destroyed unit. the number 4 reactor was covered with a concrete and metal structure after the explosion in 1986. the so-called stone coffin deteriorated and could release radioactive substances. they began believe the new shelter in april to go around it. it is 250 meters wide and 105 meters high. government officials say engineers designed the structure
to go into the real economy. >> as we saw in our report, greeks are out protesting against this deal. what with the public like to see instead? >> i think the biggest thing they would like is some sense that the unemployment issue is going to be addressed. the protests we saw today were mainly involving municipal workers, city hall workers. not just in athens, as about 2/3 of city halls around the country were shut. many of those workers will be laid off between now and the end of the year. the government is finding it very hard to get the mayors of those city halls to send in the list of names of people who have to be laid off. >> thanks so much for the update. germany is a top lender to greece, and lawmakers are expected to approve the release of berlin's contribution immediately. still, there are deep suspicions that talks of a debt write-down have been delayed until after next year's german elections. >> the deal would be put to vote on thursday or friday. >> it is not an easy sell for the defense of the idea of letting greece buy back its bonds at below market value. >> it is im
assurances that the nation's economy is sound after u.s. credit rating agency moody's stripped them of their prize the a.a.a. status. this follows the cut by standard and poor's and it was expected. >> hollande is trying to revive the eurozone the second-largest economy. moody's had nothing good to say about france's economic prospects. they say the country has become less competitive and its labor market has turned staid. they say this makes them more bolt -- vulnerable to turbulence elsewhere in the eurozone. the french finance minister moscovici rejected the you downgrade. >> this does not put into question the fundamentals of our economy or reforms utaken hat by the government. it does not? creditworthiness. >> he blames the previous french government for failing to balance the budget. nonetheless, he says the downgrade is exaggerated. private u.s. rating agencies like moody's are subject to much flak in europe. critics say they gave ailing wrote u.s. banks operating as in 2008. many want the establishment of an independent rating agency instead. >> the european markets take the
is southeast asia's largest economy and it continues to grow. laborers are voicing demands for their own piece of the success. workers around the country are asking for higher pay to cope with the rising cost of living. our bureau in bangkok has the details. >> reporter: thousands of workers took to the streets of jakarta on thursday to demonstrate they oppose low wages and a plan to cover welfare costs. protesters gathered near the presidential palace and marched to the parliament building calling for an increase in the minimum wage. the indonesian economy grew by 6.5% last year, but with that growth comes a higher cost of living. demonstrators carried signs on the 2011 l requiring salary reductions to cover social security and health benefits. the law is expected to go into effect in 2014. but workers say those costs should remain the government's responsibility. similar protests have been recently held in other cities around the country as workers urge the government to protect them. one of the world's most famous traveled denations. now the idyllic island on southern thailand has plans to
then spoke of future goals for china, which is already the world's second largest economy. hu spoke bluntly of china's regional aspirations and territorial disputes with japan and other countries. hu jintao served two terms as the communist party secretary general for a total of ten years. what does this decade mean to china? >> china has faced many domestic and diplomatic challenges over the past decade, and the president, hu jintao's leadership. >> hu promoted what he called the concept of scientific development. aimed to create a harmonious society. it will be a process for slower growth. the hu administration avoided a $2-million-year-old tax based on farmers' harvest. it was part of the president's effort to narrow the economic gap between urban and rural areas. hu also worked toward a sweeping consultation of coal mines and chemical plants, which resulted in a reduction in pollution. but the president hasn't been able to control china's income disparity or corruption among its bureaucrats, and so public anger with the government is snarling. migrant workers in cities and students look
economy -- due to concerns. >> there are talks in brussels, and it was on the minds of traders. we have this summary from the frankfurt stock exchange. >> the negotiations about the rescue package for greece our way and down on the share markets at the beginning of this week. traders are hoping that there will not be a long term -- that there will be a long-term solution but only the euro showed that investors seem to be rather optimistic. the hero has been quite strong today. optimism also for the german economy. the german consumer confidence has been stronger than expected. some investors hope now that german consumers buy more christmas presents than they have before. >> a quick look at some market numbers now. dax closing down 0.25%. euro stoxx down. the dow jones is currently down about 0.5%. the euro was trading for $1.2961. swiss bank ubs has been fined 37 million euro for regulation and failures lead into a rogue trader losing billions for the company. >> the employee was convicted of fraud dance that -- sentenced to seven years in prison. they describe the risk control systems
- largest economy is starting to pick up after months of slowdown. also fueling optimism is a slew of positive trade, investment, and sales figures. it is the moment that shook the financial markets -- the collapse of lehman brothers investment bank back in 2008. >> many thought all was lost for its german subsidiary company as well, which went bust as well, but that has not been the case. the company's liquidators have raised more than 15 billion euros. that means it could be 80% of its creditors' demands, however, some hedge fund managers are demanding more. well, it is very dark here in northern europe right now, but there is something you can do about that, mainly with electric light, believe it or not. >> after the break. >> thanks for staying with us. >> welcome back. we take a look now at the biggest terrorism case in germany in tickets, one with allegations of a cover-up and a new not to sell suspected of going on a racially motivated killing spree. >> the national socialist underground went undetected for years, but a parliamentary committee is questioning a former interio
Search Results 0 to 8 of about 9